US President Joe Biden announced on Monday that 12 countries have joined the Indo-Pacific Economic Framework (IPEF), a new trade agreement aimed at bringing Washington closer to Asian economies on issues such as supply chains, digital trade, clean energy and anti-Americanization. corruption efforts

Signatories include Australia, India, Japan, South Korea and New Zealand, as well as Brunei, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Together with the United States, these countries account for 40% of global GDP.

In a joint statement, the countries said the pact would collectively help “prepare economies for the future” following the disruptions caused by the COVID-19 outbreak and the war in Ukraine.

*Associated press